Airdrie/Cochrane MLA and now the Alberta Energy Minister, Peter Guthrie, is expecting 2023 to see more energy production, more innovation and more jobs this year in the energy sector.
“The numbers tell the story. Rig counts were up 48 per cent last year over 2021 and are set to increase further this year. Alberta’s crude oil and equivalent production was up four per cent in 2022, and the Trans Mountain pipeline expansion is scheduled to be completed later this year. A strong energy sector means more activity, more well-paying jobs, and more benefits to surrounding communities."
According to Guthrie, the total revenue value of Alberta’s energy exports increased by about 67 per cent, to about $148 billion from January to November 2022 compared to the same period in 2021. As we transition to a lower-carbon future, the demand for Alberta petroleum and natural gas will remain strong through 2050.
“In the coming year, we will continue to lead the country in practical steps to reduce emissions and keep energy affordable. Alberta’s renewable energy sector is the fastest growing in Canada. We are advancing carbon capture faster than any other province, with 25 carbon storage hub proposals selected for exploration and work underway looking at small-scale and remote opportunities in the future. All of this work is being done while more than 10 million tonnes of CO2 emissions have already been captured."
A strong Alberta energy sector is good for families across the country. It means more affordable energy, more high-paying jobs, and more tax revenue to help pay for hospitals, roads, schools, and every other sector of society explained Guthrie.
“Alberta is the responsible, reliable, and ethical energy-producing powerhouse the world needs right now and into the future. Whether that is oil and gas, hydrogen, LNG, or our emerging critical mineral industry. Looking ahead, our innovation, technology, and expertise will continue to benefit Albertans, Canadians, and the global community in 2023.”